Correct me if I'm wrong. In this video, your advice is to enter on short once price hits Resistance line. Does it matter if the candle happens to be a bull rather than a bear?
Matt is out this week, but it does not matter what the candle looks like as he usually enters at the test of the resistance line and not wait until the candle closes.
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You can also view the lower video about Sunday Gaps in FX.
Nov16 1AM DailyFX Forum Highlights
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Click the "Play" button to view the presentation. The DailyFX Video of the Day is posted at 9PM EST (New York Time) each evening.
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Click the "Play" button to view the presentation. The DailyFX Video of the Day is posted at 9PM EST (New York Time) each evening.
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Hi Matt, just watch your daily for nov 19, I was wondering how can you be long in EUR/GPB and GBP/CHF where the two currencies have almost a perfect negative correlation
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Hi Matt, just watch your daily for nov 19, I was wondering how can you be long in EUR/GPB and GBP/CHF where the two currencies have almost a perfect negative correlation
Hi,
I am only looking at the charts, nothing else.
There is no such thing as a perfect negative correlation. If you smooth it out, then maybe pairs can be positively or negatively correlated over the longer term. But I would never in a million years use the word perfect.
I am sure there were many examples of that before as well as the opposite. It is something I honestly do not think about.
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Please note at 2:55 I say highly correlated.
I meant to say inversely correlated.
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thanks for the analysis. Its appreciated. Especially the eur/gbp and the gbp/chf.
It is my pleasure. Thannk you for watching. Keep in mind that the pairs are inversely correlated, but opportunities can present themselves in each pair at different times during the trading day.
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Click the "Play" button to view the presentation. The DailyFX Video of the Day is posted at 9PM EST (New York Time) each evening.
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I am relatively new to the forex and was wandering if you had a email recommendation alert system, something like Joel Kruger? i always watch for your videos and always find them simple and easy to understand .
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